The Federal Reserve’s rate cut and President Donald Trump’s meeting with Xi Jinping failed to bring cheer to the cryptocurrency market, as it continued to decline for a second day. The Jerome Powell-led Federal Open Market Committee (FOMC) cut key benchmark interest rates by 25 basis points to the range of 3.75% to 4%.
However, the cryptocurrency market failed to respond, as its latest downturn continued, with Bitcoin (BTC) and other tokens registering notable declines over the past 24 hours.
BTC’s downtrend has intensified over the past 24 hours as it lost the crucial $110,000 level. The flagship cryptocurrency traded above $113,000 on Wednesday but lost momentum as selling pressure returned. As a result, the price fell to $109,810 before slipping below $110,000 to a low of $108,372. BTC is trading just above the $109,000 mark, down nearly 4% over the past 24 hours.
Meanwhile, Ethereum (ETH) fell below $4,000 in dramatic fashion, registering a sharp drop to $3,872. It rebounded to reclaim $3,950 but lost momentum again and fell to a low of $3,854. ETH is down almost 4%, trading around $3,873. Ripple (XRP) is down 4% while Solana (SOL) is down over 1%, trading around $192. Dogecoin (DOGE) recorded a 3% drop over the past 24 hours, while Cardano (ADA) is down over 2%, trading around $0.629. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines over the past 24 hours.
Fed Rate Cut Leaves Market Guessing
The Federal Reserve slashed its benchmark rate by 25 basis points, bringing it to the 3.75% to 4% range. However, Fed Chair Jerome Powell tempered expectations of another rate cut this year, stating that policy makers are reassessing labor market risks and will remain cautious, especially with the ongoing government shutdown limiting economic data. Analysts believe the markets have already priced in the rate cut, given the lackluster response. Maja Vujinovic, CEO of FG Nexus, stated,
“The cut was priced in — that was very clear to me. A lot of people in my crypto chats were expecting a little bit of a bump, but the market keeps selling off. Powell’s stance came across as less dovish, and traders were hoping for a signal of more aggressive or frequent future cuts.”
Powell added that rate cuts in December were not a foregone conclusion, stating,
“In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.”
Michael Saylor Believes Bitcoin (BTC) Could Reach $150,000 By Year-End
Strategy co-founder and executive chairman Michael Saylor believes Bitcoin (BTC) could still hit $150,000 by the end of the year. Saylor highlighted the Securities and Exchange Commission’s (SEC) embrace of tokenized securities, the endorsement of stablecoins to protect dollar dominance, and the overall regulatory picture in the US as reasons for his bullishness.
“I think that these 12 months have probably been the best 12 months in the history of the industry. Our expectation right now is that by the end of the year, it should be about $150,000, and that’s the consensus of the equity analysts who cover our company and the Bitcoin industry.”
Saylor’s prediction comes as BTC and the broader market struggle to regain momentum after the October 10 market crash that led to billions being wiped out from the market. According to the Kobeissi Letter, the market crash was due to short-term technical factors, and long-term market trends were intact.
“We believe this crash was due to the combination of multiple sudden technical factors. It does NOT have long-term fundamental implications. A technical correction was overdue, we think a trade deal will be reached, and crypto remains strong.”
Trump-Xi Meet To Iron Out Trade Tensions
US President Donald Trump met his Chinese counterpart, Xi Jinping, in South Korea to resolve outstanding trade tensions and stabilize relations between the two economic superpowers. Trump stated before the meeting that there were some positive signs.
“We’ve already agreed to a lot of things, and we will agree to some more right now. I think we’re going to have a fantastic relationship for a long period of time.”
Trump’s tariff policy and China’s retaliatory limits on the export of rare earth elements have fueled fears of a global economic slowdown. Trump recently announced 100% tariffs on Chinese goods, sparking a major crash in the cryptocurrency market. The October 10 crash saw BTC plunge from around $122,000 to below $103,000.
US officials have indicated that President Trump does not intend to follow through with the threat of imposing 100% tariffs on Chinese goods. Meanwhile, China is expected to ease export controls on rare earth minerals and buy soybeans from the US.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is struggling to build momentum as selling pressure dominates market sentiment. The flagship cryptocurrency failed to claim $116,000 on Tuesday despite an intraday high of $116,114 and ultimately settled at $112,906. Selling pressure intensified on Wednesday as BTC fell 2.55% to $110,032. BTC fell to an intraday low of $107,924 during the ongoing session. However, it has recovered from this level, reclaiming $110,000 and moving to $110,248.
BTC tumbled below $110,000 ahead of the Federal Reserve’s decision to cut interest rates by 25 bps. Many traders expected some degree of risk-off ahead of Fed Chair Jerome Powell’s announcement, but the nearly 6% decline since its Monday rally is more than what many expected. Analysts at Goldman Sachs have predicted at least two more rate cuts by March and June 2026, putting the Fed’s benchmark rate between 3% and 3.25%. As such, BTC’s near-term price action is contrary to market expectations. A group of analysts from crypto analytics company Hyblock stated,
“Recent history has shown that the FOMC leads to a price drop in BTC, followed by a move up. This was the case in both the no rate change and rate cut (last one) scenarios. If price does dip post-FOMC and signs of bullish confluence emerge, such as bid-heavy orderbooks, it would likely present good opportunities for investors.”
Meanwhile, the cryptocurrency market is bracing for a significant volatility-inducing event on Friday, with over $17 billion worth of BTC and ETH options contracts set to expire on crypto derivatives exchange Deribit. 72,716 BTC call options contracts and 54,945 BTC put options contracts, worth over $14.4 billion, will expire on Friday, while $2.6 billion in Ethereum options will expire the same day. With calls dominating puts, traders are betting that BTC will push higher before the contracts expire.
The maximum pain level for BTC is around $114,000, where most options will be worthless. Market makers can hedge in such a way that pulls prices towards this level, especially near expiry. Options expiry events generally increase market volatility and can trigger large spot market moves as traders rush to unwind positions and rebalance portfolios. The effect is even more noticeable when there is a large amount of out-of-the-money options.
BTC ended the previous weekend in positive territory, rising 1.37% on Sunday and settling at $108,676. Buyers retained control on Monday as the price rose nearly 2% to reclaim $110,000 and settle at $110,568. BTC surged to an intraday high of $114,082 on Tuesday. However, it lost momentum after reaching this level and dropped 1.99% to $108,362. Selling pressure persisted on Wednesday as BTC fell 0.72% to a low of $106,639 before settling at $107,585. Despite the selling pressure, the price recovered on Thursday, rising over 2% to cross $110,000 and settle at $110,116. BTC continued pushing higher on Friday, rising almost 1% to $111,042.
Source: TradingView
Price action remained positive over the weekend, with BTC rising 0.56% on Saturday and settling at $111,666. Bullish sentiment intensified on Sunday thanks to positive macroeconomic developments, including positive trade talks between the US and China, and rising odds of a rate cut. As a result, BTC rose 2.58% to cross $114,000 and settle at $114,548. The flagship cryptocurrency reached an intraday high of $116,410 on Monday. However, it lost momentum after reaching this level and settled at 114,087, ultimately dropping 0.40%. BTC rallied to an intraday high of $116,114 on Tuesday as bullish sentiment persisted. However, it lost momentum again and dropped over 1% to $112,906. Selling pressure intensified on Wednesday as the price fell nearly 3% and settled at $110,032. BTC plunged to an intraday low of $107,924 during the ongoing session. However, it has rebounded from this level and is up 0.62%, trading around $110,710.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is marginally up during the ongoing session, struggling to regain momentum after slipping below $4,000. The world’s second-largest cryptocurrency reached an intraday high of $4,266 on Monday before losing momentum and settling at $4,120. Selling pressure intensified on Tuesday as the price fell over 3%, slipping below $4,000 to $3,982. Selling pressure persisted on Wednesday as ETH fell 1.93% to $3,905 before recovering during the ongoing session.
Like BTC, ETH also registered a sharp decline after Fed Chair Jerome Powell hinted that October’s rate cut could be the last cut of 2025. The altcoin slumped nearly 2% following the news, dropping to a low of $3,845 before settling at $3,905. Powell stated that there were “strongly differing views” among his colleagues about future rate cuts. However, he added that there was a growing feeling that “this is where we should at least wait a cycle.” However, analysts are cautiously optimistic, with Alex Blume, CEO of crypto asset manager Two Prime, stating,
“Easing monetary conditions are supportive of upward price momentum for BTC [Bitcoin] so long as the macroeconomic outlook doesn’t pose severe issues unforeseen by the market.”
Meanwhile, analysts have noted that long-term ETH holders have become increasingly active in the second half of 2026, as ETH reached near-record levels. Long-term holder activity recorded two significant spikes in September, according to data from Santiment’s analytics platform, Sanbase’s age consumed metric. The metric measures the total amount of ETH changing addresses, multiplied by the time they last moved. The metric jumped to 502 million on September 6 and 603 million towards the end of September.
The spike in long-term holder activity also includes some of ETH’s oldest holders. According to data from Nansen, an ETH whale who received 20,000 ETH during the ICO moved 1,500 of the tokens to Kraken after eight years of dormancy. Data also revealed that two other ICO holders made significant moves in August and September.
Analysts also believe the impending Fusaka upgrade will have a positive impact on ETH’s price action.
ETH started the previous weekend in the red, dropping 1.57% to a low of $3,680 before settling at $3,834. The price recovered over the weekend, rising 1.51% on Saturday and 2.39% on Sunday to settle at $3,985. ETH faced volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline and settled at $3,981. Selling pressure intensified on Tuesday as ETH fell almost 3% to $3,876. The price fell to an intraday low of $3,709 on Wednesday. However, it rebounded from this level and settled at $3,807, ultimately dropping 1.78%.
Source: TradingView
Despite the overwhelming selling pressure, ETH recovered on Thursday, rising 1.33% and settling at $3,857. The price continued pushing higher on Friday, rising 1.33% and settling at $3,935. Price action remained positive over the weekend as ETH rose 0.45% on Saturday and 5% on Sunday, reclaiming $4,000 and settling at $4,157. ETH reached an intraday high of $4,266 on Monday as positive sentiment persisted. However, it lost momentum after reaching this level and settled at $4,120, ultimately dropping almost 1%. Selling pressure intensified on Tuesday as the price fell over 3%, slipping below $4,000 and settling at $3,982. Sellers retained control on Wednesday as ETH fell 1.93% to $3,905. The price has recovered during the ongoing session, up nearly 1%, trading around $3,941.
Solana (SOL) Price Analysis
Solana (SOL) has faced increased volatility and selling pressure during recent sessions. The altcoin started the week in the red, losing the key $200 level on Monday. Selling pressure increased on Tuesday as the price fell by over 2% and settled at $194. SOL briefly reclaimed $200 on Wednesday, reaching an intraday high of $201. However, it lost momentum after reaching this level and settled at $194, ultimately registering a marginal decline. The price has recovered during the ongoing session, up almost 1%.
Meanwhile, the Bitwise Solana Staking ETF (BSOL) recorded $72 million in trading volume on its second day. Bloomberg ETF analyst Eric Balchunas called the figure “a huge number” and a “good sign,” adding that trading volumes on most ETFs drop after the one-day hype is over.
“BSOL has more volume on Day Two.. $72m is a huge number. Good sign.”
Grayscale also debuted its staking-enabled Grayscale Solana Trust ETF (GSOL) on Wednesday. GSOL recorded $4 million in trading volume on its debut day, with Balchunas calling it a “healthy” number.
SOL started the previous weekend in the red, dropping to an intraday low of $174 before settling at $182. The price recovered on Saturday, rising over 3% to $187, and registered a marginal increase on Sunday despite volatility and selling pressure to settle at $188. Buyers retained control on Monday as SOL rose 0.95% to $189. The price reached an intraday high of $197 on Tuesday. However, it lost momentum after reaching this level and dropped by over $2% to $185. Selling pressure persisted on Wednesday as SOL fell over 3% and settled at $180.
Source: TradingView
Despite the overwhelming selling pressure, SOL rallied on Thursday, rising over 6% to reclaim $190 and settle at $191. Buyers retained control on Friday as the price rose 1.16% to $193. Price action remained positive over the weekend as SOL registered a marginal increase on Saturday before rising 3% on Sunday and claiming $200. SOL reached an intraday high of $205 on Monday but lost momentum after reaching this level. As a result, it fell below $200 and settled at $198. Selling pressure and volatility persisted on Tuesday as SOL fell over 3% to $194. SOL reached an intraday high of $201 on Wednesday as buyers attempted to reclaim $200. However, it lost momentum after reaching this level and settled at $194, ultimately registering a marginal decline. SOL is up 0.68% during the ongoing session, trading around $195.
Celestia (TIA) Price Analysis
Celestia (TIA) started the previous week in bullish territory, rising over 1% on Monday and settling at $1.032. However, it lost momentum on Tuesday, falling over 3% to $0.997. Sellers retained control on Wednesday as TIA fell nearly 4% and settled at $0.960. Despite the selling pressure, the price recovered on Thursday, rising over 4% to reclaim $1. TIA continued pushing higher on Friday, rising over 4% and settling at $1.043.
Source: TradingView
Price action was mixed over the weekend as TIA fell 0.58% on Saturday before rising nearly 4% on Sunday and settling at $1.076. Selling pressure returned on Monday as the price fell 3.52% to $1.038. Sellers retained control on Tuesday as the price fell over 3%, barely staying above $1. TIA registered a marginal recovery on Wednesday but is back in the red during the ongoing session, down nearly 3%, trading around $0.987.
Cosmos (ATOM) Price Analysis
Cosmos (ATOM) started the previous week in positive territory but lost momentum on Tuesday, falling over 3% to $3.187. Sellers retained control on Wednesday as the price fell over 2% and settled at $3.112. Despite the overwhelming selling pressure, ATOM recovered on Thursday, rising 2.20% and settling at $3.180. Buyers retained control on Friday as the price registered a marginal increase and settled at $3.186.
Source: TradingView
Price action was mixed over the weekend as ATOM fell 0.83% on Saturday before rising 3% on Sunday and settling at $3.261. The Selling pressure returned on Monday as the price fell by over 2% and settled at $3.184. Sellers retained control on Tuesday as ATOM fell nearly 3% to $3.101. The price registered a marginal increase on Wednesday but is back in the red during the ongoing session, trading around $3.101.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.